Ripple’s acquisition of Hidden Road to form Ripple Prime propels XRP and RLUSD to the forefront of institutional finance, merging blockchain infrastructure with global markets and unlocking seamless access to digital assets, derivatives, and cross-asset liquidity.
Ripple Prime Redefines Institutional Finance Through Blockchain Integration
The race to modernize institutional finance through blockchain technology is accelerating as major crypto firms move to integrate traditional market services with digital infrastructure. Ripple announced on Oct. 24 that it has finalized its acquisition of non-bank prime broker Hidden Road, rebranding it as Ripple Prime. The deal positions Ripple as the first cryptocurrency company to own and operate a global, multi-asset prime brokerage, offering services spanning digital assets, foreign exchange, derivatives, swaps, and fixed income products. The acquisition also reflects the company’s broader strategy to expand institutional access to blockchain-based financial services.
“In fact, since the initial announcement of the acquisition, Ripple Prime’s business has grown by 3X, and additional growth for new and existing customers is expected,” Ripple noted. Hidden Road’s founder and CEO, Marc Asch, is working closely with Ripple CEO Brad Garlinghouse and Ripple’s leadership team to integrate the businesses and extend Ripple’s institutional reach globally.
Garlinghouse emphasized Ripple’s strategic direction on X following the completion of its acquisition of Hidden Road. He noted it marks Ripple’s fifth major acquisition in about two years, following GTreasury, Rail, Standard Custody, and Metaco. “As we continue to build solutions towards enabling an Internet of Value – I’m reminding you all that XRP $XRP sits at the center of everything Ripple does. Lock in,” he said.
Ripple Prime is expected to advance the use of the company’s stablecoin, RLUSD, across financial services. Ripple stated:
Ripple Prime will significantly enhance the utility and reach of Ripple’s stablecoin, RLUSD. Today, RLUSD is being used as collateral for a number of prime brokerage products.
“Certain derivatives customers have already opted to hold their balances in RLUSD, which is expected to grow substantially in the coming months,” Ripple further noted. RLUSD earned an “A” rating from research firm Bluechip in July for its stability, governance, and asset backing, with The Bank of New York Mellon Corporation (NYSE: BK) serving as its primary reserve custodian.